Why should I have loyal customers instead of new customers

As a business owner your primary focus is to have a large customer base but it is also very important to have LOYAL customers. The importance of customer loyalty impacts almost every metric important to running a business. Without happy customers that continue to buy from you, the business won’t survive. 

Customer loyalty helps business to improve brand image. … As brand has already won trust of loyal customers, they are more likely to share positive experience than new customers. This eventually helps a brand to retain more customers and improve customer loyalty as well as brand loyalty.

See other reasons why you should have a loyal customer. 
1: Loyal customers buy more 
2: Loyal customers refer friends
3: Loyal customers provide feedback and ideas 4: Increasing customer retention helps boost profits simply because loyal customers already have trust in your brand and therefore are likely to spend more.

Attracting new customers may be rewarding, but it also often involves a lot of hard work and expense. … 70% of companies say it’s cheaper to retain a customer than acquire one, while others have suggested that the cost of acquiring a new customer can be as much as seven times more expensive.

Remember the best strategy a business can have is to create customers that creates more customers. Without happy customers that continue to buy from you, the business won’t survive.